Business
Why Netflix stock jumped to an all-time high today
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
What happened
Shares of Netflix Inc (NASDAQ: NFLX) were flying higher today after the company topped expectations in its fourth-quarter earnings report, and offered strong guidance for the year ahead. It also said it was done taking on debt, projecting break-even free cash flow for 2021, and putting to rest concerns about its cash burn, a favorite bugaboo of Netflix bears.
As a result, the stock was up 14.4% as of 11:19 a.m. EST today.
So what
Netflix added 8.5 million subscribers in the fourth quarter, much better than its forecast in October of 6 million, thanks to a strong content slate and the pandemic still…
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